Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
Source – FXEMPIRE
Silver began the week with modest gains, stabilizing above its 50-day moving average at $32.55—a level now serving as short-term support. The metal also finds backing from a key Fibonacci retracement at $32.19.
Source – FX Empire
Gold fell to a near three-week low on Monday as a U.S.-European Union trade accord lifted the dollar and risk sentiment, while investors awaited fresh cues on rate policy from this week’s Federal Reserve meeting.
Spot gold fell 0.6% to $3,316.03 per ounce as of 11:36 a.m. ET (1536 GMT), after touching its lowest level since July 9, earlier in the session. U.S. gold futures were down 0.7% at $3,313.2 per ounce.
“I think the more trade announcements we get, the more the dollar increases. These tariff deals are dollar friendly, lowering the allure of gold and driving the sell-off amid a risk-on sentiment,” said Marex analyst Edward Meir.
Spot silver was down 0.1% at $38.12 per ounce and platinum fell 0.6% to $1,393.25, while palladium gained 2.1% to $1,245.52.
Source – Reuters
The price for Gold stood at 8,241.26 Indian Rupees (INR) per gram, up compared with the INR 8,211.09 it cost on Wednesday.
The price for Gold increased to INR 96,124.48 per tola from INR 95,772.53 per tola a day earlier.
Source – FX STREET
Ghana’s gold production could increase by around 6.25% to approximately 5.1 million ounces in 2025, up from last year’s record output of 4.8 million ounces, the Chamber of Mines in Africa’s top gold-producing nation said on Friday.
“We project gold output to range between 4.4 and 5.1 million ounces, buoyed by increased contributions from Newmont’s Ahafo South Mine and Shandong’s Namdini Mine,” Chamber of Mines President Michael Akafia said at an annual gathering in the capital Accra.
“We’re looking at about 30% to 40% more production than the previous year,” the general secretary of the group, Godwin Armah, told Reuters.
Source – Reuters
“This we hope will be reality in a three to five year period,” PolyMet’s Warren Hudelson told MPR News in 2004.
Now, 20 years later, the controversial mine in northeast Minnesota still hasn’t opened. It hasn’t even begun construction, because three key permits it needs to advance — approvals state and federal agencies granted more than five years ago — have since been revoked or suspended.
Source – MPRnews
Mark Brennan, CEO and Chairman commented, “While Q2 results were modestly lower than our expectations as the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25. Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado’s development projects.”
Source – USA Today
